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Your local credit union should be one of your first stops when you’re looking to borrow money, especially if you have a fair or bad credit score (689 score or lower). Credit union personal loans often have benefits over those of other lenders, including:
Typically lower interest rates.
Smaller starting loan amounts.
More flexible terms.
Loan officers willing to consider factors beyond your credit score.
Table of Contents
- Mortgage rates today: Monday, March 18, 2024
- What is the average stock market return?
- What is a W-4?
- What is the SBA guarantee fee?
- Net worth defined
- 6 steps to opening a Roth IRA
- What is a custodial Roth IRA?
- What is a fiduciary?
- Still deciding on the right carrier? Compare Medigap plans
- What is a rollover IRA?
- What is tax-loss harvesting?
- Ready to get started? Here's what to do next
- Definitions: Money Transfer Rates
- » This page is out of date
- What is a physician loan?
- How to make money in stocks
- IRA vs. 401(k)
- What is a charitable donation?
- What is the earned income tax credit?
- What are mutual funds?
- Bitcoin (BTC) definition
- Life insurance buying guide
- How to find an old 401(k)
- Credit union vs. bank: Differences at a glance
- What this means for flyers
- What is passive income?
- What is inflation?
- What are dividend stocks?
- How to make money as a kid
- How do capital gains taxes on real estate work?
- How much savings should I have?
- How much does a Disney+ subscription cost per month?
- IHDA highlights and eligibility requirements
- ETFs for beginners
- Best-performing gold ETFs
- About Farmers home insurance
- About USAA renters insurance
- Still deciding on the right carrier? Compare Medicare Advantage plans
- Best Ways to Send Money to Mexico Online of 2021
- How to get TSA PreCheck for free
- Nerdy takeaways:
- 7 of the best apps to make money
- S&P 500 index (SPX) today
- Mortgage options
- Is GoFundMe taxable?
- Defining low income
- Investing money is personal
- Laid off vs. fired
- How much should you spend on rent? It depends
- Best ETFs as of March 2024
- Best stocks by one-year performance
- Be proactive
- United fare classes: The differences
- The right time to ask for a credit limit increase
- Reasons to override a power of attorney
- How to get paid on YouTube
- What to know about co-owning a car
- How to write a two weeks’ notice letter
- Best fleet fuel cards
- 5 ways to save money when you fly Southwest Airlines
- What is a Roth IRA account?
- What is Form 5498?
- How to use a savings goal calculator
- All about the Schumer box
- Food and drink
- Can you withdraw money from a 401(k) early?
- 1. Certificates of deposit (CDs)
- 7 best-performing AI stocks
- What you need to open a bank account
- Capital gains tax on stocks: Do you have to pay?
- What does APY mean?
- What is the AmEx Trifecta and why should you have it?
- How much does a wire transfer cost?
- KeyBank business checking is best for small-business owners who:
- The best AmEx transfer partners
- Score big savings on March celebrations
- 1. Buy your own cable modem and router for cheaper Wi-Fi (over time)
- Best Prepaid Debit Cards
- Where they’re based and where they fly
- Preparing to buy tips
- Choosing an IRA vs. a 401(k)
- How to calculate interest in a savings account
- Non-QM loans: flexibility at a cost
- What is a savings account?
- What is self-employment tax?
- What is a conventional mortgage?
- What is cash-offer financing?
- What is a tax return?
- Which state do you owe taxes to?
- What is payday loan consolidation?
- Service business ideas: The top 15
- Credit union advantages
- Marriott elites become United elites and vice versa
- January
- What to do before applying for a mortgage
- Step 1: Check your credit
- 2023 Arizona state income tax rates and tax brackets
- What is my net worth?
- The value of Marriott Bonvoy points
- What is a HELOC?
- Why is having a low credit utilization important?
- QuickBooks Mac Plus features
- What does this value mean?
- Custodial Roth IRA rules
- How we found the best travel insurance
- What goes into the credit card interest calculation
- Price
- Best dental insurance for seniors on Medicare
- First, some background
- Do you need earthquake insurance?
- Wingstop franchise information
- How to check passport application status
- The best budget apps
- What does SSSS mean on a boarding pass?
- 6 Hawaii alternatives
- What is a bonus?
- Average car loan interest rates by credit score
- Best free stock screeners
- General advice for international money transfers
- How do LLC taxes work?
- 40 best startup business ideas
- Seats and cabin
- Best Marriott Bonvoy perks
- How to check your Global Entry expiration date
- California state income tax brackets and rates
- 20 best ways to earn Delta SkyMiles
- Minimum wage over time
- Earn the sign-up bonus
- What are AI ETFs?
- 3 steps to selling stocks
- Who can qualify for one
- What to know about Alaska lounges
- What types of car-buying apps are available?
- Frugal food tips
- How to calculate your car lease payment
- Domestic redemptions
- Secure your human resources contact
- 1. Set your budget
- What is options trading?
- 1. Open an account at a different bank
- How do credit union loans work?
- Daily mortgage rates chart
- What is a hard inquiry?
- Wells Fargo Reflect® Card
- Earning miles with American Airlines
- How to compare FHA vs. conventional loans
- What is the gift tax?
- When to write a financial aid appeal letter
- Best ways to consolidate credit card debt
- 4 common check fraud scams
- Average retirement savings balance by age
- 6 ways to buy Bitcoin
- 17 passive income ideas
- Do you have good credit?
- Debt management plans: Pros and cons
- The cheapest renters insurance in California
- Late winter and early spring
- What is child life insurance?
- What is recourse factoring?
- Buy down the interest rate: Is it worth it?
- A
- What is card lock?
- What is AARP and how much does it cost to join?
- Ways to pay yourself: Salary vs. owner’s draw
- At a glance
- The bull call spread
- Top cards for Uber and Lyft
- Companion Fare
- Roth IRA contribution limits 2024
- Pros and cons
- What is a state income tax?
- 1. Château de Versailles
- Starting a fitness business in 6 steps
- Skip the app
- Important things to know before flying first class on Emirates
- Car insurance premiums
- Is charitable giving tax-deductible?
- How to calculate the cost of starting a business
- Our picks for the best life insurance companies in March 2024
- How fraud is handled
- Key takeaways
- What should I look for on my Equifax credit report?
- Cheapest for bank deposits: OFX
- In this article
- What is no medical exam life insurance?
- How to send money online, on mobile or in person
- 1. Contact your old employer about your old 401(k)
- Credit union disadvantages
- 1. Participate in paid market research
- What is a business credit score?
- The best money-making apps
- How to make money online
- What does it mean to invest in the S&P 500?
- The exceptions
- Mint vs. NerdWallet at a glance
- How to invest in stocks in 6 steps
- What is the 10-year Treasury?
- What's the difference between a HELOC and a home equity loan?
- Merchants push for lower fees
- How do expense trackers work?
- Options for an old 401(k)
- How tax-loss harvesting works
- How Self — formerly Self Lender — works
- Summary of cash advance apps
- How much is life insurance?
- Average inflation rate
- Roth IRA vs. traditional IRA: What's the difference?
- 50 best small businesses to start
- What is the 401(k) early withdrawal penalty?
- What is a tax lien?
- IRA contribution rules
- Existing airlines are offering more flights and routes
- Show the love, spread out the payments
- Find your target savings number
- Start with your student loan servicer
- How does escrow work?
- Breakdown of central air costs
- What is the standard deduction?
- Do you pay taxes on stocks you don't sell?
- What’s a good credit score with FICO vs. VantageScore
- What you’ll get with the Capital One Venture Rewards Credit Card
- How to use a HELOC in retirement
- What is an executive summary?
- What is the child tax credit?
- What are gold ETFs?
- The FDIC insurance limit: $250,000 per depositor, per institution, per category
- How does the earned income credit work?
- Investing in Bitcoin
- The self-employment tax rate for 2023
- Best credit cards with no credit check
- Why invest in mutual funds?
- Current student loan interest rates
- Federal and state support
- Securian Financial life insurance
- How does payday loan consolidation work?
- Is a joint bank account a good idea?
- What the law says
- Why mortgage rates change every day
- The average stock market return isn't always average
- Do I have to pay Arizona state income tax?
- How to fill out a W-4
- How much are SBA guarantee fees?
- What to do if you’ve been laid off from work
- How to lower your credit utilization
- Understanding your required coverages
- ETF advantages and disadvantages
- Are these the best stocks to buy now?
- What is fiduciary duty?
- Credit card issuers won’t allow debt transfer among their own products
- Do you prefer cash back or points you can apply toward travel?
- 22 popular tax deductions and tax breaks
- The best homeowners insurance in Florida
- What are the steps to overriding your power of attorney?
- Get an accurate picture of school costs
- What is price protection, and how do I use it?
- 20 high-dividend stocks
- Ways to earn money as a younger kid
- Cheapest cars to insure among popular models
- Bonus tax rate
- Places to cruise without a passport
- Why the Chase Sapphire Preferred® Card is better for most people
- You might receive more financial aid than you did last year
- How does 'for sale by owner' work?
- Roth IRA income limits 2024
- Types of ETFs
- How is PMI calculated?
- Wire transfer fees by financial institution
- Ways to improve your online banking security and protect yourself
- How to consolidate your debt
- Added value with new statement credits
- Why the Quicksilver is better for most people
- Cash-back cards
- Why you need a savings account
- 5 steps to get preapproved for a home loan
- How does Bitcoin work?
- Where Farmers stands out
- Personal services
- Bank advantages
- Who pays the gift tax?
- Work out how much of your income should go to rent with the 50/30/20 rule
- Why the Bilt World Elite Mastercard® Credit Card is better for renters and travelers
- YNAB, for hands-on zero-based budgeting
- Why do travelers get SSSS?
- What does the Schumer box tell you?
- What reasons can you withdraw from your 401(k) early?
- What does Disney+ include?
- Bank wire transfer
- 2. Reduce your internet speed for a lower price
- How we selected the best car-buying apps
- Does Zelle report to the IRS?
- Know what you're paying for
- Find out if there will be severance
- How we ranked the top life insurers
- Comparing government loans and conventional mortgages
- How do federal tax returns work?
- 2. Add a joint owner
- The best home insurance companies of 2024
- 2. Become a virtual assistant
- How does a hard inquiry affect your credit score?
- Mortgage interest
- Median retirement savings balance by age
- Raise your deductible
- How to open a custodial Roth IRA for kids
- Grace period
- Cheap(er) cell phone plans from Verizon, T-Mobile and AT&T
- Best for size of dental network: UnitedHealthcare
- The wrong time to ask for a credit limit increase
- How to transfer a 401(k) to IRA
- The best renters insurance in California
- 1. Brigit: Best for budgeting tools
- How life insurance rates are determined
- Two weeks’ notice templates
- How to calculate the inflation rate
- Why lock a card?
- 2. Cash management accounts
- How to read your escrow analysis
- Wells Fargo Active Cash® Card
- How to file for student loan bankruptcy
- Turo car insurance for hosts
- State minimum wages in 2024
- How much is PMI?
- Best AI ETFs by one-year performance
- How state income tax rates work
- How a physician loan works
- Bluebird by American Express
- Rely on the car owner’s insurance
- How to deal with the award booking search tool
- Frugal shopping tips
- High car payments are affecting all car-buying segments
- How tax-deductible donations work
- What you need to know about savings accounts
- The self-employment tax rate for 2024
- Active vs. passive mutual funds
- How cash-offer programs work
- Cheapest for cash pickup: Remitly
- Chase Ultimate Rewards®: The basics
- When is payday loan consolidation a good idea?
- Bank disadvantages
- Best credit union personal loans for 2024
- February
- Personalized versus average interest rates
- Free checked bags
- U.S. Bank Visa® Platinum Card
- Are my donations to a GoFundMe tax-deductible?
- Cathay Pacific basics
- The best Marriott Bonvoy transfer partners
- What's the difference between a HELOC and a cash-out refinance?
- Deciding factors
- Do you pay taxes when you receive a gift?
- 4 steps to spot a fake check and avoid trouble
- Marriott points calculator
- Fiduciary financial advisors
- What is a mega backdoor Roth?
- Holiday weekends
- What is non-recourse factoring?
- How does a Roth IRA work?
- Who gets Form 5498?
- Popular cards that offer price protection
- When do you pay capital gains tax on a home sale?
- Are auto loan interest rates rising?
- Save consistently
- IHDA first-time home buyer loan programs
- How LLCs pay income taxes
- MOHELA administrative forbearance
- How to redeem rewards with the Capital One Venture Rewards Credit Card
- Affordability down overall
- 2. Eiffel Tower Stadium
- Why write an executive summary?
- How much is the 2023 child tax credit?
- Is there a Zelle tax loophole?
- Life insurance premiums
- What it means to have FDIC insurance
- International partner redemptions
- Average student loan interest rate
- 2. Shop for a loan
- Where Farmers falls short
- Where USAA stands out
- Securian Financial life insurance policies
- Pros of joint bank accounts
- How are business credit scores calculated?
- Step 2: Pre-qualify and compare offers
- Dynamic pricing is all around you
- The measure of low income can vary
- What is the 10-year treasury yield today?
- How to find the best stocks to buy now
- Features and ease of use
- More about the best home insurance companies in Florida
- Is a debt management plan right for you?
- Should I buy a car with someone?
- The pros and cons of life insurance for kids
- How to reduce your risk
- Investing for income: Dividend stocks vs. dividend funds
- 10 ways to save money on travel with AARP
- Roth IRA income and contribution limits 2023
- How are bonuses taxed?
- How to decide
- How are stocks taxed?
- Sign-up bonus
- What you'll need for your Global Entry renewal
- How to buy an ETF
- KeyBank business checking at a glance
- Neobanks: Their role, disadvantages and benefits
- The pros and cons of a life insurance trust
- Where to find auto sales listings
- Chime Secured Credit Builder Visa® Credit Card
- Preapproval is not the same as pre-qualification
- Mortgage payoff calculator help
- Two plans for 0% interest
- 3. Get an account that's in a different ownership category
- How to dispute your Equifax report online
- 3. Transcribe audio and video
- 5-year, 10-year, 20-year and 30-year S&P 500 returns
- Should I buy stocks when markets are at all-time highs?
- Other alternatives to Mint
- Am I a resident for Arizona state income tax purposes?
- Calculating net worth: What are assets and liabilities?
- Pricing
- Best iOS personal expense tracker apps
- Shop around
- Rules for debt transfers by issuer
- Are you willing to pay an annual fee?
- More about the best renters insurance companies in California
- How to apply for a Self credit-builder loan
- When is Form 5498 issued?
- Rewards card + engagement ring = dream honeymoon
- Ways to lower your monthly mortgage payment
- How the standard deduction works
- You might get free money
- How to sell your own home
- Does raising the minimum wage cause inflation?
- Average annual PMI premium
- Spring-clean your credit card debt
- Key features of IRAs vs 401(k)s
- How to invest in gold ETFs
- 14 business startup costs to plan for
- Earned income tax credit 2023
- How to calculate self-employment tax
- How does Bitcoin make money?
- How to establish domicile
- Best homeowners insurance companies: Pros and cons
- Limits on fighting charges
- 2. Find your 401(k) with your Social Security number
- What is a soft inquiry?
- Is the gift tax deductible?
- How much rent can you afford?
- What to include in your financial aid appeal letter
- 5 reasons why a Roth IRA can be right for minors
- What does earthquake insurance cover?
- What are the steps to overriding someone else's power of attorney?
- C
- Warning signs that you may have been selected for secondary screening
- How to get a business loan after a tax lien
- How to use average car interest rates
- Can I contribute to a Roth IRA if my income is too high?
- PMI calculator help
- What is identity theft?
- Types of AI ETFs
- Debt consolidation calculator
- Repayment terms may be interest-only
- Best life insurance companies: Pros and cons
- What do financial pros say about Bitcoin?
- Savings accounts with strong APYs can help your money grow
- How to trade options in four steps
- Key sections of an IRS tax return
- Where USAA falls short
- Guaranteed issue life insurance
- Credit union vs. bank: What to consider when choosing
- QuickBooks Mac Plus limitations
- Home equity loan interest
- How do Marriott Bonvoy points compare to other hotel programs?
- Fiduciary duty vs. suitability standard
- Mega backdoor Roth 2024
- What do you do with Form 5498?
- Which transactions are locked?
- 3. High-yield money market accounts (MMAs)
- Does Disney+ allow password sharing?
- Priority boarding
- How to calculate APY
- Dine, dine, dine (and drink)
- How KeyBank business checking works
- When are state income tax returns due?
- 3. Grand Palais
- Child tax credit 2024
- Renters insurance premiums
- When waiting to buy a car isn’t an option
- State availability
- Fastest (tie) and biggest network: MoneyGram
- Cons of joint bank accounts
- 4. Sell stuff online
- March
- How your credit score affects your rate
- Citi Simplicity® Card
- Programs that use the federal poverty level
- How are SBA guarantee fees calculated?
- How to search for awards
- Is a HELOC a good idea?
- An alternative to chasing the best stocks
- Average daily balance
- Roth IRA income and contribution limits 2024
- How car models affect insurance rates — down to the trim
- Budget airlines are bringing down prices
- Who might prefer the Capital One Venture Rewards Credit Card
- The bear put spread
- What are AI stocks?
- You might need a new federal student loan
- Do all workers earn at least the minimum wage?
- Earning rates that maximize the AmEx trifecta
- Administrative forbearance for other student loan servicers
- What to include in an executive summary
- Mortgage selection tips
- Top car-buying apps
- Where to get student loan help
- Who has to pay self-employment tax?
- 3. Determine other ownership costs
- Employer training programs
- How to dispute your Equifax report by mail
- Get a secured credit card
- Do personal credit scores affect business credit scores?
- How long will your mortgage loan last?
- Do I need to pay gift taxes on the money I donate?
- Retirement savings by age
- Best travel insurance overall: Berkshire Hathaway Travel Protection
- What to consider if you’re transferring loan debt
- Where do you spend the most money?
- The worst they can say is no. Shouldn’t I try?
- What happens after you override a power of attorney?
- How to remove someone from a car loan
- All year
- Credit-builder loans vs. secured cards
- 2. Empower: Best for fast cash
- Nail down extra expenses
- What can you invest in with a Roth IRA?
- Find nonprofit student loan assistance
- Decide what type of account you want: checking vs. savings
- Cash App
- Aim for the most valuable uses of your Venture miles
- How to buy AI ETFs
- Serve American Express Prepaid Debit Account
- Unseasonal scarcity in the second quarter
- For credit and savings
- Frugal entertainment tips
- Other factors that affect what you'll pay each month
- Research the company's history to get a fuller picture
- Scale back spending
- How far in advance should I get preapproved for a mortgage?
- What kinds of conventional loans are available?
- Pros and cons of cash-offer programs
- You decide: Is Bitcoin a good investment?
- How to pay off a mortgage early
- State availability
- How to consolidate payday loans
- Price vs. yield
- Do you include a 401(k) in a net worth calculation?
- How the annual gift tax exclusion works
- Cheap cell phone plans from brands owned by the big three
- Alternatives to a debt management plan
- What happens if you have a boarding pass with SSSS on it?
- How to meet your monthly savings goal
- What to ask your issuer
- Who to contact for more information
- Free checked bag
- California income tax deadlines and extensions
- Roth IRA contribution limits 2023
- When debt consolidation is a smart move
- 3. Negotiate with your internet provider for a better deal
- Child tax credit expansion: What the tax deal could mean for you
- IRA vs. 401(k): A road map
- Have the owner add you to their policy
- How does a life insurance trust work?
- Homeowners insurance premiums
- FDIC insurance: What’s covered
- How a savings account works: withdrawal limits
- How to invest in mutual funds
- When dual residency might apply
- 4. Join a credit union
- Joint bank accounts and marriage
- 5. Housesit
- When you should lock your mortgage rate
- What to expect the stock market to return
- How to invest in the S&P 500 in two steps:
- How technology enables even more dynamic pricing
- What crowdfunding tax documents do I need?
- Discount points
- Check for discounts
- What’s not covered
- Differences between recourse and non-recourse factoring
- What do U.S. passport status updates mean?
- Traditional IRA deduction limits 2023-2024
- Are bonuses taxed differently?
- Maximize your savings
- Can Disney+ fit my budget?
- What a good credit score can get you
- 7 types of identity theft and the warning signs
- Types of state income tax
- Take the stress out of tax prep
- Are physician home loans a good idea?
- Why doesn’t Zelle send you a 1099?
- Savings account simple interest vs. compound interest
- Borrowers who may consider a non-QM loan
- Earned income tax credit 2024
- How student loan interest rates work
- Farmers home insurance coverage
- Securian Financial life insurance rates
- How much are Chase Ultimate Rewards® points worth?
- Citi® Diamond Preferred® Card
- No guarantee that savings will be passed on
- Exceptions to state minimum car insurance requirements
- Finding the right American Express card for you
- Self offers a related secured credit card
- Goodbudget, for hands-on envelope budgeting
- Are Roth IRAs insured?
- What to do if your account is closed
- Which issuers offer credit card locks?
- A return to normalcy after COVID-19
- 4. Peer-to-peer lending
- Standard deduction 2023
- How to file the FAFSA
- 20% rebate on eligible in-flight purchases
- How to complete your Global Entry renewal
- Roth IRA income limits 2023
- Where KeyBank business checking stands out
- 4. Yves-du-Manoir Stadium
- Check seasonality and compare award prices
- File for unemployment
- Best life insurance company overall: MassMutual
- 4. Find the right car for you
- Traditional college
- 5. Use IntraFi Network Deposits
- Fastest (tie): Xoom
- Simplified issue life insurance
- What is a good business credit score?
- Hard credit inquiry or soft inquiry?
- Net worth calculator
- What to do if your appeal is unsuccessful
- Using the mortgage points calculator
- What doesn’t impact your life insurance premium
- How much should you pay yourself?
- Which card should you get?
- How are dividends taxed?
- Entertain yourself
- Sweet v. Cardona administrative forbearance
- 4. Bundle your services for a better combined price
- Qualifying for a HELOC in retirement
- Airline loyalty programs
- How to pay self-employment tax
- If you don't have a credit card...
- USAA renters insurance coverage
- April
- Other SBA loan fees
- Is QuickBooks Mac Plus right for your business?
- Factor in other costs
- How do I know if I'm working with a fiduciary financial advisor?
- Your 401(k) plan allows after-tax contributions
- What you need to get started
- What's next?
- How much should you spend on a mattress?
- E
- What’s a spousal Roth IRA?
- More about the card
- How to prove undue hardship for student loans
- APR vs. APY: What’s the difference?
- Frugal DIY project tips
- FDIC insurance: What’s not covered
- How much interest will I earn on $10,000?
- Where to find non-QM loans
- Ask these questions before choosing a cash-offer program
- 6. Open a cash management account
- How to dispute your Equifax report by phone
- Today’s rates for specific kinds of mortgages
- 5 steps to applying for a mortgage
- Other low-income guidelines and programs to note
- Property taxes
- Managing expectations
- Support
- Best for comprehensive coverage: Cigna and Aetna (tie)
- How to get earthquake insurance
- How long does passport processing take?
- The particular risks of neobanks
- How to invest in dividend stocks
- Using card lock strategically
- Free stock screeners from brokers
- Food and beverage
- Do I have to pay California state tax?
- ONE VIP Visa Prepaid Card
- Find out when exactly your coverage begins
- How to qualify for the earned income credit
- Farmers home insurance rates
- Securian Financial customer complaints and satisfaction
- How to open a joint account
- A growing and lucrative co-brand market
- Making your choice between a credit union and a bank
- 6. Write online reviews
- W-4 form 2024
- How are HELOC payments calculated?
- Optional coverages
- Work on your credit
- What’s next?
- Cheap cell phone plans from brands that resell network service
- Wingstop franchise costs
- Choosing recourse or non-recourse factoring
- 3. EarnIn: Best for large advances
- Average cost of term life insurance by age
- Inflation example
- My experience getting SSSS on my boarding pass
- Exceptions to IRA contribution limits
- Airfares are falling, but don't wait to book
- The perfect marriage of rewards, 0% intro interest period
- Consider your legal options
- Standard deduction 2024
- Find a bank that suits your needs
- Calculate your reduced Roth contribution
- What states are increasing minimum wages in 2024?
- Domestic vs. international fees
- Max out your Q1 rotating bonus categories
- 5. Check on assistance programs for a monthly discount
- How to find a physician loan
- Who might prefer the Platinum
- 3 excuses that keep you from making money investing
- How to use the car lease calculator's results
- Extend or find new insurance
- Tax deductions for self-employment
- Companies that offer cash-offer financing
- What happens next?
- Step 3: Choose your lender and loan
- Additional functionality
- Citi Double Cash® Card
- Why is the 10-year Treasury yield important?
- Is United’s basic economy worth it?
- How to store the Bitcoin you buy
- Your 401(k) lets you move your after-tax money
- Mattress-buying tips
- F
- Determine how much debt you can handle
- What are fleet cards?
- Where do you find the Schumer box?
- Mistakes to avoid while paying yourself
- 5. Online savings accounts
- The long straddle
- Capital One SavorOne Cash Rewards Credit Card
- How to invest in AI stocks
- When do you have to pay taxes on stocks?
- Google Pay
- What affects your credit score?
- Public Service Loan Forgiveness administrative forbearance
- Decent AmEx transfer partners
- Is it a good idea to consolidate credit cards?
- Home prices rise, as expected
- 5. Teahupo'o
- Should I file taxes now or wait for the child tax credit expansion?
- Types of life insurance trusts
- So, should you switch to Zelle?
- The bottom line
- How much to keep in your savings account
- 5. Contact the seller or visit a dealership
- Advantages of conventional loans
- How to handle your state tax liability
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Personal loans from our partners
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How do credit union loans work?
Credit unions are not-for-profit financial organizations that serve members who live, study, work or worship in a particular area. Each credit union is controlled by members, who elect volunteer board members to oversee the organization.
If you meet the credit union’s requirements, you can apply for membership, usually online. You may be required to open an account with an initial minimum deposit, typically $5 to $25. Once your membership is approved, you can access banking services, including personal loans.
Once you apply for a loan and are approved, you’ll receive the funds in your account and then repay the credit union in fixed monthly installments, with terms ranging from two to seven years.
Best credit union personal loans for 2024
If you don’t have a neighborhood credit union, nationwide options are available. The credit unions below lend in all 50 states and Washington, D.C., and you can likely apply for membership online.
Alliant: Best for fast funding
Becoming a member at Alliant doesn’t require a fee, and anyone is eligible by joining Foster Care to Success, a nonprofit organization that serves foster teens across the country. Alliant even pays the $5 membership fee to FC2S on your behalf.
Why it stands out: Alliant offers a wide range of personal loan amounts and can approve most borrowers the same day they apply. Once you sign the loan documents, Alliant can also provide same-day funding.
First Tech: Best for co-sign and joint loan options
First Tech mostly serves tech companies and their employees with personal loans up to $50,000.
Why it stands out: First Tech offers co-signed and joint loans to personal loan borrowers. By adding someone with a higher credit score or larger income to your application, you may boost your chances of getting approved. Co-borrowers are equally responsible for missed payments, but in a co-signed loan, only the primary applicant has access to the loan funds.
PenFed: Best for a seamless application process
PenFed is known for serving military members, but anyone can join the credit union by opening a savings account with an initial deposit of $5.
Why it stands out: Not only can anyone join PenFed, but unlike other credit unions, you can apply for membership as part of the loan application, letting you combine both these steps into one. PenFed also lets you pre-qualify online to see your potential rate, loan amount and monthly payment without affecting your credit score, so you can get an idea of your loan options before you apply.
Navy Federal: Best for military members
To be eligible for membership at Navy Federal, you must be active duty, retired or a veteran of any military branch; a Department of Defense civilian; or a family or household member.
Why it stands out: In addition to focusing on military members and their families, if you’re active duty or retired military, you can qualify for a 0.25 percentage point discount on your personal loan’s annual percentage rate, which lowers the overall interest you’ll pay on the loan.
Credit union personal loan rates
Rates for unsecured personal loans will depend on your credit score, credit history, income and debts.
Rates can also vary by type of credit union: federally chartered vs state-chartered.
Federal credit unions cap annual percentage rates at 18%. Your credit union may also charge an application fee that isn't part of the APR.
As of September 2023, the average APR for a three-year federal credit union loan is 10.58%, according to data from the National Credit Union Administration.
Lender | Typical APR range | Loan amounts |
---|---|---|
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more. See my rates on NerdWallet's secure website | 11.79% - 29.49%. | $1,000 to $100,000. |
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more. See my rates on NerdWallet's secure website | 7.99% - 17.99%. | $2,000 to $50,000. |
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more. See my rates on NerdWallet's secure website | 8.99% - 18.00%. | $500 to $50,000. |
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more. See my rates on NerdWallet's secure website | 7.49% - 18.00%. | $250 to $50,000. |
How to get a loan from a credit union
A low credit score alone won’t typically disqualify you from getting a loan from a credit union, because credit unions consider your whole financial picture, including your credit history and standing as a member with the credit union, when reviewing your loan application. Still, a good score will get you a lower rate than someone with bad credit, so it pays to check your credit score before applying for a loan.
Since credit unions come in many sizes, the application process, approval criteria, rates and other aspects of a personal loan vary. Many credit unions allow online loan applications, which typically ask for personal and contact information, Social Security number, employment and income details and any current debts.
» MORE: How to apply for a personal loan
Local or smaller institutions may require you to apply in-person or close the loan at a branch.
Credit union vs. online lender
Online lenders offer loans across the credit spectrum, so they’re another option for bad-credit borrowers (629 credit score or lower) who need a personal loan.
» MORE: See your bad-credit loan options
While credit unions only conduct a hard credit check — which can cause a small temporary dip in your credit score — most online lenders typically perform soft credit checks first to see if you pre-qualify for a loan.
Online lenders also offer online applications that don’t require you to visit a branch and typically fund loans quickly.
But loans from credit unions tend to be cheaper than those from online lenders, especially for borrowers with fair or bad credit scores. Borrowers with fair credit received an average APR around 18%, according to the most recent anonymized offer data from users who pre-qualified in NerdWallet’s lender marketplace.
Next steps
If you’re already a member and you can withstand a temporary hit to your credit score, a credit union may get you the cheapest loan. NerdWallet recommends comparing loans from multiple lenders.
You can pre-qualify with online lenders on NerdWallet and compare your estimated rate with one from your credit union.
on NerdWallet